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I am also a beneficiary of this scheme and hence I can answer this question very well.I have received 1,64,644 as Education loan subsidy under the CSIS.In this regard I have also submitted 4 grievances with the PMO through pgportal, so I’m writing my experience here.I was granted a loan of 3,78,000/- in the year 2013 (5000/- insurance included).Note: Insurance is not mandatory while availing loan. It's the bank who usually sell these products to make profit. I was unaware about this, hence I had to take insurance.My yearly loan disbursal amount were:2013–14: 1,24,5002014–15: 1,24,5002015–16: 1,24,500My moratorium period ranged from 2013–2017.My year wise subsidy received in terms of percentage as of 1st September,2018.Financial years— —Total percentage2013–14 ——————– 100%2014—15———————100%2015–16 ——————— 99.994075%(received 1 Rs. less)2016–17 ——————— 100%So the subsidy I have received till now is 1,64,644/- rupees only out of the total claim of 1,64,645/- rupees only.The above picture shows the amounts I have received as subsidy on the given dates. After receiving the above chart, later my loan account has been credited some amount on different dates, hence I have written that in the paper.Edit: On 17th sept, 2018 my loan account has been credited with 51,953/- which is 85.41% of 2016–17 claim. This takes my total subsidy for 2016–17 to 100%. (See the screenshot-1 below)Edit 2: On 30th march, 2019 my loan account has been credited with 16,877/- this takes my total subsidy for 2015–16 to 99.994075%. Though I received 1 rupee less I can manage with that. ^_^ This was the last pending subsidy. (See the screenshot-2 below)Screenshot-1Screenshot-2I repay an EMI of 8553/-, which gets debited from my father’s a/c in the beginning of every month.First of all, for those who have availed loan before 1st April,2016, they must go and convert their loan account under MCLR from the earlier BPLR.Let me remind you all, in last 2 years as per MCLR rate fixation, the interest rate has been drastically reduced (ofcourse because of RBI reducing repo rate and lower inflation) but my interest rate was 13.2% and after conversion it was 10% and now after change in SBI's mclr it is now 10.5%.The point to remember is that every bank has not allowed conversion of BPLR to MCLR. In my case SBI allowed conversion in August/sept 2017, even though RBI enforced it in April,2016 for new borrowers.The conversion charges are different for different banks, SBI charges Rs. 590/- of which 500/- is conversion charge and 90/-Rs. is GST (18%) for one-time only. This conversion is applicable only to borrowers who has availed loan before April 1,2016. For others who has been granted loan after April 1, 2016 their interest fixation is automatically based on MCLR.Now, everyone should know the process how your subsidy is given.Loan application to bank and approval of loan.Application for CSIS and submission of necessary documents and complete the agreement for Subsidy.Completion of 1st financial year after taking the 1st installment and opening of claim window by Ministry of HRD in Canara Bank's website.Interest claim by your bank by uploading data in Canara bank's website and sending claim documents to Canara bank.Canara bank forwards the claim to Gov't of India after scrutinizing the documents.Budgetary allocation by Gov't of India.Additional budgetary allocation by Gov't for any shortfall in funds (if needed) .Eligibility:As per the CSIS scheme an applicant is eligible for interest subsidy during his Moratorium period i.e. course period + 1year or 6month of getting job, whichever is earlier, only for his/her higher education i.e technical or professional course and that is only once, provided his course is approved by Government of India.As per the guidelines of the govt. your annual income i.e your family income from all sources shouldn't exceed 4.5 lacs.Interest incurred upto a loan amount of 10 lacs is eligible for subsidy. Interest charged upon loan amount above 10 lacs is not subsidized and should be borne by the aplicant.Application for CSIS:If you're eligible then the only thing you need to do is that- you must submit the income certificate of self or Parents approved by the proper authority to the bank and some other formalities like signing an agreement with the bank (if needed). Other than this you don't have to do anything else. If you have done this much then you can check whether your bank has submitted claim regarding this or not in the given linksAs per the guidelines available in Canara bank's website you need to submit the income certificate only once, that is during the 1st year of your loan disbursal.This is such an agreement for Subsidy by IDBI bank (most bank has such agreements) . I couldn't find the agreement for SBI hence I uploaded this for your reference. You should ask the bank for any such agreement after submitting income certificate.#Remember, even if it is bank's responsibility to do all the chores towards Subsidy. It is also your duty yo see if any other formalities is missed.Subsidy::Enquiry (For applicants after 2013–14 financial year)https://canarabankcsis.in/CSIS_Old_Data_Enquiry/ (For applicants before 2013–14 financial year)The above link will take you to the Nodal bank appointed by the Govt of India i.e. Canara bank.There you will find whether your concerned bank has claimed subsidy and forwarded your documents to Canara bank for approval of your subsidy or not, if, yes, then how much amount You can find all these data from the above links. If your bank has not done any of the above procedures during the given period then your data will not be reflected in Canara Bank's website. Please read below to find the screenshot of claims under my name.Moratorium period :Moratorium period- It is the duration of course + maximum of 1 year or 6 months after getting job, whichever is earlier.First thing, you should know that during your moratorium period, your bank claims for the interest incurred during each financial year separately. For that, the Govt of India opens a window to claim the subsidy and during that period only (around 30 days to 90 days) your bank can claim for your subsidy.Example:If you take a loan for a graduation course of 3 years and you availed the loan for all 3 years then your moratorium period will be 3 years + maximum 1 year ( if you didn't get job within 1 year) or 6 months after getting job ( if you get a job as soon as you completed your course, then after completion of 6 months in job your repayment will start)Interest calculations and claim of subsidy:During moratorium period simple interest is charged on your account.The interest incurred by you in a financial year will be claimed in the next year after opening of claim window.It is the sole responsibility of your bank to claim the subsidy, update the data in Canara bank's website and forward all the documents to Canara bank.Example:Suppose in April 2017 you availed a loan of 4 lacs for a 4 years course, and you availed the 1st installment which is for your 1st year i.e 1 lacs Rupees in April 2017 itself, and your interest rate is 10%.Then the whole interest incurred by you in 2017–18 will be 10,000 rupees. Now this amount will be claimed by your bank to the govt through the nodal bank i.e. canara bank in the year 2018. The claim window is opened mostly after August. Hence your 2017 claim will be made in August-2018.The above picture is of the claims made by SBI under my loan account.It means your bank claims the subsidy after the completion of the financial year onlyThen Canara bank submits the whole claims to the Govt. of India. After that, as per the govt. provision and budgetary allocation for subsidy, the govt. disburses the amount to the respective accounts.The point to note here is that if, the claims are for 1000 crores but the Budgetary allocations are for only 500 crores, then the govt. provides 50% of the claims at once and again make provisions for additional budget for 500 crores. This is where it takes too long to get the subsidy.The above reply from Canara bank towards a grievance filed by one of my friend clearly states that “Ministry of HRD, Govt. of India has since modified the claim settling procedure. As per new procedure, the subsidy will be settled for the moratorium ended loan accounts on priority basis.”Hence, as per new guidelines Subsidy is settled only after moratorium period is over.You can also get your Subsidy in your savings account even after closing your loan account If any part of Subsidy is pending with the bank. The above reply (4th point) isfrom SBI,Burla branch to my another friend who had closed her loan account but she had not received part of her Subsidy. Last time I talked with her She had received all her pending Subsidy in her savings account.Grievances:If you find that your bank has not submitted your claim then,First, ask your bank officials to do the needful. If you don't get satisfactory reply, then go to step 2.you can register your grievance on your Bank's website, every bank has it's own grievance redressal system. If your grievance still persists, then go to step 3.You can file your grievances in PG Portal in the link given below https://pgportal.gov.in . This directly reports to the PMO and they are very responsive.For SBI, the grievance page is known as SBI CMS and the link is ::CMS:: .Or go to PG portal -> public grievance -> mark the box to agree and proceed -> in the form Financial service banking division or HRD ministrySupplementary claims:For those persons whose interest hasn't been claimed by the bank or claimed but in irregular period or if any yearly claim has been missed, then for that period your bank can claim it as per the “Supplementary claim” provisions.This process is done during the same window period which is opened every year for regular claim.The above picture is a proof of supplementary claims, the picture is not mine. Supplementary claims are made during the regular claim period but as per my knowledge this has been stopped since 2015.FAQs (Frequently asked questions):If your Bank is unaware about the procedures to apply for CSIS then ask your bank official to visit the following link “ CSIS-FAQ ” this link will take you to canara bank's website and will answer all your queries related to CSIS.Some random suggestions:Remind you again, please convert your interest rate calculation method to MCLR or RLLR.Check your status on the Canara bank’s website in the link that I have provided above and for any other grievances write down to your bank or in the PG portal.Let other people know about this scheme.Hope it helps. Thanks for your patience.Do share and aware others, if you liked it.Message me personally for any other query.~Trilochan

There are several banks that offer loans for MBA students. Some of the most popular loan-sanctioners that provide from 10 to over 40 Lakhs of educational loan are-State Bank Of IndiaPunjab National BankAxis BankCanara BankSyndicate BankHDFC BankBank of MysoreIDBI BankIndian Overseas BankAllahabad BankIf you're an MBA aspirant and want to save your time and money and want a hassle free educational loan application process, connect with Gyandhan. Gyandhan, is a startup by IIT alumni, with associations to several banks and NBFCs, such as SBI, Bank of Baroda, Axis Bank etc. We work to ensure that loan applications are sanctioned at the earliest. In addition, we provide aid to students with the entire process of an education loan. It is highly recommended that you connect with Gyandhan with your loan requirements and get a Call Back from our counsellors. Fill this form and check your loan eligibility here.

Hello,Students can avail Education Loan Facility in the first year as well as in the subsequent yearsThe University has set up a separate Loan Assistance Cell, to cater all the needs like loan letter, loan application form and for any other justifiable assistance required from the University.For the facilitation of education loans to University students, the University has tied up with the nationalized banks of India including:1. Punjab National Bank2. Oriental Bank of Commerce3. State Bank of India4. Karur Vysya BankIn addition, Bank of Baroda, Andhra Bank, HDFC Bank, Allahabad Bank, Union Bank of India, United Bank of India, Canara Bank, IDBI Bank, Tripura Gramin Bank, Assam Gramin Vikash Bank, Axis Bank, Indian Bank and Syndicate Bank have also given proposal letter for providing Loan facility to students of University from their respective branches. Some Non-Banking financial companies like NSDL e-governance, AFINOZ, Eduvanz and Credenc are also offering education loan facilities to the students of LPU.The University Campus itself has the branches of the following banks that may be approached by the students/parents for loan purposes: --State Bank of India- Punjab National Bank- Oriental Bank of Commerce- Karur Vysya Bank- ICICI BankHope this information will help you.Thanks